Should You Buy A New Home or Remodel The One You’re In?

Should You Buy A New Home or Remodel The One You’re In?

If your mind is having a debate in terms of either buying a new home or remodeling the one you currently own, this article might help you make a wise decision. I have noted down few comparisons of the said two options that are surely helpful enough for you. So without further ado, here they are.

Should You Buy A New Home or Remodel The One You're In?
image via http://www.normandyremodeling.com

The Reason

Knowing your true intent or reason of buying or remodeling is a must. If your reason is you wanted a place that is safer for you and your family and your current neighborhood doesn’t offer it, then buying a new home is a good decision. If your reason is just to get a brand new atmosphere inside your house, remodeling is the wisest and practical option.

The Budget

If you have a good budget or if your current family income can keep up with the ever rising price of new house or real estate, I don’t see any problem for you to get a brand new house. If you are just keeping up with daily life and your family income are just fair enough for you and your family to survive, a DIY remodeling is way much better in the long run.

The Time

If remodeling your own home doesn’t fit for the time or schedule you got at hand, especially if you are an over busy human, buying a brand new one that is ready for occupancy is a decision you have to make. On the other hand, if you got all the time in the world to make changes at your home without sacrificing any job or business you got, then remodeling is the no-brainer choice for you.

The Price

Estimate the cost of remodeling and cost of buying a new home. For remodeling, calculate the amount of time, materials and labor. See if the two are close to each other, especially if you got a big remodeling plan at hand. If they are too close in terms of expenses, buying a brand new one will save you all the stress and hassle that price of remodeling can give.

The Future

If your current home or house is built few years back and remodeling it won’t make it stronger enough to stand the ever changing time and weather, buying a new house will be the beneficial one for you and your family and kids’ future. Also, see if the value of your current home is increasing or such, if not, then buy a new one and consider it an investment for the future time.

Still can’t decide what to choose? Well, an expert in this field can surely help you out. There is no harm in asking and consulting just make sure that the choice you will make can be beneficial not only for you but for your family as well.

Should You Buy A New Home or Remodel The One You're In?
image via http://cdn.archinect.net
Should You Buy A New Home or Remodel The One You're In?  Should You Buy A New Home or Remodel The One You're In?

1 Comment

  1. Many people make the mistake of trying to buy a fixer upper not knowing the extras that may show themselves, such as electrical work, plumbing, among many others. These things require professional installation and can cost a fortune depending on the job. The job may not look like much from the outside, but could be complicated and require a lot of parts. Having a contractor come in before purchasing a home (if allowed) may save a ton of money (and headaches) in the long run.

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